ARK Invest Boosted Its GBTC Holdings by 2.14M Shares in Q4
Cathie Wood's ARK Investment Management increased its holdings of the Grayscale Bitcoin Investment Trust (GBTC) by 2.14 million shares in the fourth quarter of 2020, bringing its holdings of the market-leading institutional bitcoin investment vehicle to 7.31 million shares.
- At press time, ARK's holdings of GBTC are worth $357.5 million.
- ARK's boosted stake is an increase from the 5.17 million GBTC shares it held on Oct. 31, 2020.
- Not only did ARK's holdings in GBTC rise in the fourth quarter, the value of GBTC shares took off as well, reflecting the meteoric rise in the price of bitcoin during that same time period.
- GBTC shares rose 222% in the fourth quarter and are up 39% so far this year. The price of bitcoin increased 177% in Q4 and is up 63.1% YTD.
- Grayscale is owned by CoinDesk parent company Digital Currency Group.
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